Trust Receipt for trade

A declaration by a client to a bank that ownership in goods & servicesreleased by the bank are retained by the bank, & that the client has received the goods & servicesin trust only. Turnkey A method of construction whereby the contractor assumes total responsibility from design through completion of the product. Turnkey Contract An agreement under which a contractor agrees to complete a product so that it is ready for use when delivered to the other contracting party. Two-Tier market( http://www.whymart.com) An exchange rate regime which normally insulates a country from the balance of payments effects of capital flows while it maintains a stable exchange rate for current account transactions. Tying Arrangement A condition that a seller imposes on a buyer, requiring that if the buyer desires to purchase one product (tying product), the buyer must also agree to purchase another product (tied product), which the buyer might or might not want. The laws of some countries prohibit certain tying arrangements. U Ultimate Consignee The person who is the true party in interest, receiving goods & servicesfor the designated end use. Ultimo Day The last business day or last stock trading day of a month. Un/Edifact United Nations Electronic Data Interchange for Administration, Commerce & Transport: A nationally accepted Electronic Data Interchange st&ard. Unconfirmed A documentary letter of credit where the advising bank makes no commitment to pay, accept, or negotiate. Unconscionable Unfair or oppressive. Underdeveloped Country A nation in which per capita re income is proportionately low when contrasted with the per capita real income of nations where industry flourishes. Unfair trade( http://www.alibaba.com) Practice Unusual government support to firms such as export subsidies to certain anticompetitive practices by firms themselves such as dumping, boycotts or discriminatory shipping arrangements that result in competitive advantages for the benefiting firms in international trade( http://www.alibaba.com). Uniform Commercial Code